New tax on China yachts? More boats looking for Hong Kong berths?

8:31 AM Fri 25 Feb 2011 GMT

'A boat tax in China will send more boats to places like Hong Kong - which is already full' Guy Nowell &copy Click Here to view large photo

Here's a news item from the China Daily today: Owners of yachts - a luxury that is gaining popularity among China's newly rich - will have to pay an annual vessel tax based on the length of their craft if a draft law is passed by the top legislature. The latest draft of the vehicles and vessels taxation law was submitted to the National People's Congress (NPC) Standing Committee for second reading on Wednesday. 'Based on the principle of taxation determined by law, a user tax for yachts has been included in the latest draft and will be collected according ...

Click here for full story.

by Sail-World Asia, and China Daily

Newsfeed supplied by

#News #PowerBoats #Boating

New tax on China yachts? More boats looking for Hong Kong berths?

Sports/News

Weather Forecasts & Live Reports